Stockland has used the materiality definition from the Integrated Reporting Framework, which states ‘an integrated report should disclose information about matters that substantively affect the organisation’s ability to create value over the short, medium and long term’.
We identified our FY18 material matters using the following process.
The issues identified through this process and the sustainability content in the Annual Review are reviewed and approved by Stockland’s executive team and the Board.
We combined the outcomes of the following two materiality processes to identify draft material matters:
The resulting list of matters served as a starting point for our integrated reporting materiality workshop.
An integrated reporting materiality workshop was held with members of the leadership team to identify any additional relevant issues, rank issues of greatest significance and prioritise them based on their ability to affect value.
Material matters were mapped in terms of their potential impact on value creation over the short, medium and long term.
Following the materiality workshop, the identified material matters were validated via a six stage collaborative assessment undertaken by Group Strategy. This included inputs from teams across the whole business.
The final list of material matters was presented to our internal Integrated Reporting Committee.
Once confirmed, the matters formed the basis of the Board and Executive Committee's strategy discussion.